MS SB2950

Authorizes the issuance of state general obligation bonds not to exceed $25,000,000 to assist Hinds County with construction and development costs of the Hinds Parkway Road project.

Creates a special "2019 Hinds Parkway Road Project Fund" within the State Treasury to receive bond proceeds and disburse funds at the Department of Finance and Administration's discretion.

Bonds may be issued at any time before July 1, 2023, with maturity not exceeding 25 years and interest rates subject to Mississippi law limits.

Full faith and credit of the State of Mississippi is pledged to secure bond payments, with any shortfall paid from unappropriated state funds.

Bond proceeds are exempt from state taxation and may be used only for the Hinds Parkway Road project costs and issuance expenses.